Kabam Hits $700 Million Valuation With Employee Stock Sale

Closely held videogame maker Kabam says it is now worth $700 million, based on a recent private transaction that allowed employees to sell $38.5 million of common stock.

None of the money will go to the San Francisco-based company itself, which says it has $50 million in the bank. Kabam expects to notch revenues of more than $300 million this year, up from more than $180 million in 2012.